Consumer Goods

Under Armour Inc ($UA) : Cup and Handle. Bullish.

Under Armour ($UA) continues its bullish move up since it breakout from the kumo resistance in end June.

Yesterday, together with the overall market movement, UA hit a new high with a very nice cup and handle forming.

So far, UA has managed to hold its price above the $76 range.

On the Ichimoku chart, all indicators are aligned for a bullish move:

1. Tenkan sen and Kijun sen are pointing upwards

2. Price is trading above the kumo and is going up

3. The Chikou Span has pierced through the recent high and there is no known resistance ahead

4. Leading kumo is showing upwards trend as well.

There is a very high chance that UA will hit $100 by year end since the year end retail sales are not in yet.





Watch the Gold : Possible Cup and Handle

With the Euro weakens considerably (and may even dropped further), the Gold chart seems to be a cup and handle in formation.

If it stays at current level, the leading kumo support is fairly thick.

It also has good support from the Weekly Chart at 110.

If Euro issues worsen this week, I won’t be surprised to see Gold shoot up and complete the handle.

HKSE Infrastructure

Anhui Tianda Oil Pipe Company Limited (0839) : Very nice Cup and Handle formation

Previous post on Anhui Tiande highlights the kumo resistance.

And indeed, Anhui Tiande hit the kumo and retrace a little.

What happens next is it actually forms a cup and handle and when it break through the kumo resistance, it breaks through strongly.

Very nice 🙂

2009Nov-Anhui Tianda Oil Pipe Co Ltd-800x600